Deborah Rogers has just released a report for the Post-Carbon Institute(PCI). Rogers once worked as a financial consultant for Merrill Lynch and is a member of the US Extractive Industries Transparency Initiative. She has stated that shale gas reserves have been vastly overestimated and overhyped.Her report has concluded:

1. Wall Street promoted the shale gas drilling frenzy, which resulted in prices lower than the cost of production and thereby profited [enormously] from mergers & acquisitions and other transactional fees.2. U.S. shale gas and shale oil reserves have been overestimated by a minimum of 100 per cent and by as much as 400 to 500 per cent by operators, according to actual well production data filed in various states.3. Shale oil wells are following the same steep decline rates and poor recovery efficiency observed in shale gas wells.4. The price of natural gas has been driven down largely due to severe overproduction in meeting financial analysts' targets of production growth for share appreciation, coupled and exacerbated by imprudent leverage and thus a concomitant need to produce to meet debt service.5. Due to extreme levels of debt, stated proved undeveloped reserves (PUDs) may not have been in compliance with SEC [Securities and Exchange Commission] rules at some shale companies because of the threat of collateral default for those operators.6. Industry is demonstrating reticence to engage in further shale investment, abandoning pipeline projects, IPOs and joint venture projects in spite of public rhetoric proclaiming shales to be a panacea for U.S. energy policy.

Do you have anything from other than an organisation that promotes the “Post Carbon” world?

Just thought I’d ask because we haven’t actually established the post carbon world yet, well except for the “peak oil” bit between your ears

Posted by spindoc, Friday, 22 February 2013 11:37:19 AM

You just couldn't wait could you "Spindoc from beyond Flat Earth"

"Do you have anything from other than an organisation that promotes the “Post Carbon” world?

Just thought I’d ask because we haven’t actually established the post carbon world yet, well except for the “peak oil” bit between your ears"

Well I am sure that a washing machine repair man has all the answers.

Peak Oil, I don't even need to go there because the likes of you are so brain dead that you won't even begin to understand the physics, chemistry or 'science' that would allow you to comment with any professional credence.

If you want more evidence, may I suggest you read some basic science that has been written for the lay-man (probably beyond you) regarding peak oil? Try doing a 'Google' search of Uppsala University in Sweden and the work of Kjell Areklett, Professor of physics and global energy systems, he writes about very technical information, particularly related to energy, in lay terms.

Knuckle heads like you could learn a thing or two by reading his research and gaining a basic understanding of energy.

To put things in a basic perspective you should be aware any "growth" we see in the economy is dependent on ever greater amounts of debt/energy. The reason is simple, and not often discussed, since 1980, genuine statistical evidence shows incomes have remained flat when adjusted for inflation.

It is obvious you are unable to comprehend economics, energy, chemistry and physics and are unwilling or unable to acknowledge resource depletion and population growth verses a finite planet. This failure seems to result from some potent combination of self-interest and self-delusion.

In simple terms we should all be able to see the divergence between GDP and energy over the last few years, particularly in the first world. This departure strongly suggests that GDP is artificially inflated. Anyone with a modicum of intelligence would see how this has been accomplished.

Science and genuine (on-the-ground) evidence illustrate the simple, uncontroversial conclusion that the global economy (and thus the GDP measurement) has remained highly dependent on extravagant money printing and deficit spending.

To me this suggests that GDP growth in the absence of growth in energy consumption is largely a monetary phenomenon. Ironically you can't make this stuff up.

Based on your stupid comment it is obvious the less people know about important complex issues such as the economy, energy consumption and the environment the more they want to avoid becoming well-informed and impartial to new research.

Is it truly surprising that ignorance is self-reinforcing, obviously in your case this is the rule rather than the exception. You have ignorance as your default setting.

This is not surprising given that most people do not learn anything important about the world after the age of 18 unless they remain engaged in real (scientific) or genuine study and learning.

In your specific case it is obvious you suffer from the dated mantra of:Ignorance + an Optimist's Brain = Disaster.

Posted by Geoff of Perth, Friday, 22 February 2013 11:33:19 PM

Geoff of Middle Earth,

Yes but after two posts you didn’t answer the question. “Do you have anything from other than an organisation that promotes the “Post Carbon” world?

If you don’t, that’s fine just say so. Like so many obsessed with such topics you flay OLO’ers with your favorite links and ignore broader, dare I say contrary perspectives, and woe to any flat earthers who dare to even ask a question. Yep, we get it.